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    When calculating a cross hedge ratio a cross-hedge ratio for e.g. a hedging strategy which involves styrene and WTI oil futures contracts, do the units in which the prices are expressed (respectively being $/barrel and $/lbs) have an impact?

    The optimal number of contracts for the minimum variance hedge needs to be calculated with the dollar values of both contracts, so volume conversions don't really seem to matter. I have checked my calculations for both scenarios, but both options yield the same results (same standard deviations, correlation coefficient and therefore also the same hedge ratio and amount of contracts needed).

    However, I was wondering whether there was perhaps something I have overlooked?

    Thanks in advance
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